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Johnson & Johnson expects $2.5bn in COVID-19 sales in 2021

Johnson & Johnson expects $2.5bn in COVID-19 sales in 2021

Mubasher: Johnson & Johnson has expected to record $2.5 billion in the sales of its coronavirus (COVID-19) vaccine in 2021, according to the company's second-quarter (Q2) financial results as cited by CNBC.

In Q2-21, the company has reported a 27.1% sales growth to $23.3 billion, compared to $18.366 billion in the year-ago period.

Meanwhile, the company's net earnings jumped by 73.1% to $6.278 billion in the second quarter from $3.262 billion in the same quarter of 2020.

Johnson & Johnson's pharmaceutical business, which has developed the COVID vaccine, yielded $12.59 billion in revenues, up 17.2% from $10.752 billion in Q2-20.

In addition, the revenues generated by the company’s consumer unit increased by 13.3% year-on-year (YoY) to $3.735 billion in Q2-21.

J&J predicts a full-year profit of $9.5 to $9.6 per share.